DTCC Expands Coverage to Include GSE Structured Deals

The Depository Trust & Clearing Corporation (DTCC) has increased the number of securities in its coverage of corporate actions announced through its Global Corporate Action Validation Service (GCA VS).

In the latest enhancement, GCA VS added the ability to obtain information on scheduled payments on all structured securities held by the Federal Reserve Bank. That information will be made available to GCA VS customers on about 2.4 million bonds held by the Fed, although some of those are already covered by GCA VS from other sources. These structured securities principally involve securities created by Fannie Mae and Freddie Mac.

The significantly expanded coverage was introduced following customer surveys and meetings that indicated firms wanted GCA VS to provide coverage of additional securities, which includes structured securities issued and maintained by the Federal Reserve Bank, as well as scheduled payments on global fixed income securities and Unit Trusts.

The GCA VS, a service of DTCC Solutions LLC, provides the largest centralized source of “scrubbed” corporate action announcement information for an array of securities from 160 countries worldwide. The data is used by brokerage firms, banks, hedge funds and others in both their front offices for trading and in their back offices to ensure accuracy of their processing of the corporate action events.

GCA VS ensures the highest quality corporate action information through a comprehensive cleansing process which comprises data mapping, data normalization, consolidation and verification and is designed to help customer firms manage the risks associated with processing corporate actions from around the world. DTCC Solutions is a subsidiary of DTCC.

Until this most recent enhancement, GCA VS provided corporate action announcements on more than 2 million securities to customer firms who use the service. GCA VS also provided coverage of interest, maturities and principal payments on structured securities that are eligible for custody and processing by The Depository Trust Company, a DTCC subsidiary.

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